FINANCIAL BACKGROUND
As stated earlier, the Company was a pioneer in setting-up the first
CETP for clusters of tanneries in India. Keeping this in mind, the
Central Pollution Control Board, New Delhi invested Rs.10 lakhs in the
equity of the Company. As it was a demonstration plant for tanneries in
India, the Ministry of Industry, Government of India supported the
effort with a special subsidy of Rs.15 lakhs. Matching grants were given
by the Government of Tamil Nadu, which allocated a sum of Rs.25 lakhs as
it was to be a concept-demonstrator. Apart from such participation, the
Company received subsidies from the Central and State Governments to the
extent of Rs.141.25 lakhs. The remaining funds were contributed by the
member-tanneries that stood at Rs.145.75 lakhs. When the plant was
commissioned in 1991, the capital investment stood at Rs.337 lakhs.
Between 1992 & 2004, further investments required for the modernization
of the CETP took up the Gross Block of the Company to Rs.9.00 crores.
To comply with the mandated norm of Zero Liquid Discharge by the Tamil
Nadu Pollution Control Board in the year 2004, the Company embarked upon
the full-scale upgradation of its Common Effluent Treatment Plant.
The Water Recovery & Reuse Project was established at a cost of Rs.62.00
crores and was funded through a grant (35% of the project cost) from the
Industrial Infrastructure Upgradation Scheme sponsored by the Department
of Policy & Promotion, Ministry of Commerce & Industry, New Delhi while
the balance of 65% being sourced from the beneficiary members and
financial institution/s.
In 2012, the Company installed a Cross-Flow MBR at a cost Rs.6.00 Crores
and further is in the process of erecting and commissioning an 8-Stage
Multiple-Effect Evaporator at a cost of Rs.19.00 crores. This investment
of Rs.25.00 crores has come solely from the pockets of the tanneries
thus resulting in the total cost of the ZLD plant at Rs.87.00 crores and
the cumulative cost of the project to Rs.96.00 crores.
SUMMARY OF FINANCIALS FROM 1986 TO 2016